Voluntary Administration (VA)

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Voluntary Administration

A voluntary administration is a formalised type of administration that stands the company in a stationary state; and where the voluntary administrator investigates and reports on the company’s history and financial position to creditors. The voluntary administrator also makes recommendations about its future. 

Creditors can then make a decision whether to:

  1. Accept a Deed of Company Arrangement if one is proposed by the directors,
  2. Liquidate the company
  3. Return the company to the control of the directors. 

A Deed of Company Arrangements intention is to save the company and continue to operate. The DOCA is a procedure that permits a company to make an arrangement or compromise of which is binding on all creditors.  If accepted by the creditors the company may be saved and continue to operate.